In just 15 years, Rwanda has increased its electricity access to 75% from 6% in 2009. This took government ownership, leadership, and commitment, partnership with the private sector, funding from development partners, and dedicated structure and institutional strengthening.

Rwanda became the headquarters of Africa’s innovation financing facility, known as timbuktoo Africa Innovation Foundation. The foundation launched by African leaders in January this year at the World Economic Forum (WEF) in Davos, Switzerland, is a bold partnership between UNDP, African governments, and the private sector.

The European Union has secured a critical raw materials deal with Rwanda, expanding collaboration between the two sides – particularly in the solar sector. A friendly regulatory environment deserves credit for helping to fast-track the adoption of solar, according to local analysts.

OX Delivers, an e-mobility transport service company based in the UK, has received a £1.2 million ($1.5 million) grant from Energy Catalyst, an Innovate UK programme, to help it roll out all-electric OX4 trucks in Rwanda and expand in the global South. It intends to build the OX4 truck in March 2024 and deliver it for assembly in local markets.

As of end of Dec 2023, the off-grid energy access rate was 21.4 per cent of all Rwandan households with access to electricity. Households far away from the planned national grid coverage were encouraged to use alternatively cheaper connections such as mini-grids and solar photovoltaics (PVs).

This funding round was spearheaded by the Ecosystem Integrity Fund (EIF) and saw participation from notable investors such as Acumen and the Hard Edged Hope Fund. Other prominent investors included Beyond Capital Ventures, TotalEnergies, Societe Petrolieres du Rwanda, Alphamundi VC, and EIF.

On Jan 11, the Lower Chamber of Parliament approved a law ratifying a $300 million (approx. Rwf380 billion) financing agreement meant to fund a sustainable and eco-friendly energy project in the country. The funding would increase electricity access, strengthen transmission networks and expand clean cooking solutions, without the use of firewood.

The company intends to allocate the equity funds to hasten product development, while both debt and equity funds will be directed towards enlarging Ampersand’s battery swap network. This expansion is vital for catering to the demand from African delivery and taxi motorcycle riders aiming to switch from conventional fuel to electric motorcycles.